Therefore I can weed out the people that are here because they want the cheapest apartment and the people that wouldnt mind LVP flooring, upgraded counters, appliances, bathroom fixtures.

New appliances, new HVAC, new fixtures.

Ask questions here; keep it simple-flooring, paint, appliances.

Here's the way I see it (3 options).OPTION 1Let's say you spend 30 000$ to get it up and going (all fixes you mentioned + new appliances and all), then rent it for 1100$ / month.

Has your accountant or CPA accelerated the depreciation of what's considered "personal property" from those units (appliances, fixtures, cabinets etc)?

New flooring, paint, and appliances.

New carpet, paint, appliances...cosmetic rehab.

I'm personally handy around houses so I used ~$6,000 and some elbow grease to repair a water damaged garage (posts, sheathing, shingles, exterior paint), upgrade to vinyl windows(entry level), painted every wall, removed nicely perfumed carpet and refurbished hardwood floors, replaced kitchen counters and appliances, installed heating duct to 2nd floor. ~2 years later insulated attic with blown in.

Renovation Items Included:New roofExterior/Interior PaintNew Kitchens (Granite, Backsplash, appliances)New Laminate FlooringNew BathroomsNew Wood Fence Around PerimeterI bought each side for $42,500 x 2 = Total Purchase cost $85,000 Each side is 2BR 2BA 1,225 sq ftTotal renovation cost was $45K for both sides.

The cost of rehab will depend on your market and the price range.If you're in the Midwest, this is how I figure out quick repair costs based on pictures (keep in mind this works for the median price range of $100K to $250K) and if you intend to FLIP (fix-n-sell)- cosmetic improvements (paint, replace carpet with hardwood, new windows, landscaping) - $10,000- remodel (new kitchen, new bathrooms, appliances) - $25,000 to $30,000 (this will typically include cosmetics)- structurals (new driveway, new garage) + cosmetic + remodel - $40,000 to $50,000Since you intend to fix-n-rent, multiply the above numbers by 65%.